JPMorgan Chase & Co. Raises Dell Technologies (NYSE:DELL) Price Target to $160.00

Dell Technologies (NYSE:DELL) had its price objective hoisted by JPMorgan Chase & Co. from $155.00 to $160.00 in a research note released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on DELL. TD Cowen boosted their price objective on Dell Technologies from $105.00 to $155.00 and gave the stock a hold rating in a research note on Friday, May 31st. UBS Group increased their price target on Dell Technologies from $113.00 to $141.00 and gave the company a buy rating in a report on Friday, April 19th. Barclays raised shares of Dell Technologies from an underweight rating to an equal weight rating and set a $97.00 price objective for the company in a research note on Tuesday, August 13th. Morgan Stanley restated an overweight rating and issued a $155.00 target price on shares of Dell Technologies in a report on Monday, June 17th. Finally, Sanford C. Bernstein upped their price target on shares of Dell Technologies from $120.00 to $155.00 and gave the company an outperform rating in a report on Monday, May 20th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Dell Technologies presently has a consensus rating of Moderate Buy and an average target price of $132.06.

Dell Technologies Stock Performance

NYSE DELL opened at $111.30 on Thursday. The stock has a 50 day moving average price of $125.88 and a 200-day moving average price of $120.61. Dell Technologies has a one year low of $53.62 and a one year high of $179.70. The company has a market capitalization of $78.95 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.34 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The business had revenue of $22.24 billion during the quarter, compared to analyst estimates of $21.70 billion. As a group, equities analysts predict that Dell Technologies will post 6.85 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Tuesday, July 23rd were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is 36.33%.

Insider Activity

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 16,434 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $135.16, for a total transaction of $2,221,219.44. Following the transaction, the director now directly owns 806,352 shares in the company, valued at approximately $108,986,536.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael S. Dell sold 139,419 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $136.18, for a total value of $18,986,079.42. Following the completion of the transaction, the chief executive officer now directly owns 30,272,822 shares of the company’s stock, valued at approximately $4,122,552,899.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 16,434 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $135.16, for a total value of $2,221,219.44. Following the sale, the director now directly owns 806,352 shares in the company, valued at approximately $108,986,536.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,058,131 shares of company stock worth $963,293,619. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Dell Technologies during the fourth quarter valued at approximately $5,121,000. Allspring Global Investments Holdings LLC grew its stake in Dell Technologies by 1,229.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 69,102 shares of the technology company’s stock worth $5,286,000 after buying an additional 63,905 shares during the last quarter. Cerity Partners LLC increased its position in Dell Technologies by 46.7% during the 4th quarter. Cerity Partners LLC now owns 6,533 shares of the technology company’s stock valued at $500,000 after buying an additional 2,079 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Dell Technologies in the fourth quarter valued at about $59,000. Finally, NewEdge Wealth LLC acquired a new stake in Dell Technologies in the fourth quarter worth about $371,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

About Dell Technologies

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).